Business News
MICHAEL BACHMANN NAMED VICE PRESIDENT AND CHIEF FINANCE AND ADMINISTRATIVE OFFICER, HEARST ENTERTAINMENT & SYNDICATION
Thursday 10. February 2011 - Nelson J. Maione to Retire and Consult After More Than 40 Years at Hearst
Michael Bachmann has been named vice president and chief finance and administrative officer of Hearst Entertainment & Syndication, a unit of Hearst Corporation. The appointment was announced today by Scott Sassa, president of Hearst Entertainment & Syndication, and is effective immediately. Nelson J. Maione, who Bachmann is replacing, is retiring after more than 40 years at Hearst Corporation and will become a consultant to the Company.
Bachmann was formerly assistant group finance and administrative officer for Hearst Entertainment & Syndication, and has been with Hearst since February 1996. Prior to Hearst, he held accounting positions at Reliance Group Holdings and W.R. Grace & Co. Bachmann has a bachelor’s in accounting and finance from Manhattan College and an M.B.A. in finance from Pace University.
Commenting on the announcement, Sassa said, “Michael has been instrumental in expanding and strengthening the many dynamic properties within the Entertainment & Syndication Group. His expertise continues to be integral to our success and I applaud him on this well-deserved promotion.”
Maione is retiring after a successful tenure as group finance and administrative officer of Hearst Entertainment & Syndication. Prior to that, he served as vice president and resident controller of Hearst’s Books/Business Publishing Group since its formation in 1979. Maione joined Hearst Corporation in 1971 as an accounting manager for Hearst Magazines. He was named assistant controller of Hearst Magazines in 1976. Maione is a certified public accountant and holds a bachelor’s from King’s College in Wilkes-Barre, Penn.
“Nelson has made significant contributions to Hearst over the past four decades,” Sassa said. “We express our sincere appreciation for his service to the Company and are pleased that he will continue to serve as a valuable resource to us.”